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One advantage of globalisation is that is it has caused increased growth for many countries which has led to a rise in GDP thus a rise in living standards of the population. One disadvantage is that globa...
A monopoly is occurs when there is a single firm is the only supplier of a good or service in a given economy. Thus, it is able to choose the price that it wants (price maker) and a given quantity that wi...
Economies of scale describe the positive effects of increasing production to a firm. The principle is that as output increases, it could be the output of shirts, for example, then the average cost per shi...
A rise in Interest rates provides an incentive to save money rather than spend, reducing investments and consumption. As a result economic growth is likely to decreaseThe value of the pound will increase ...
Creating flash cards with the properties of the different market structures, including real life examples of each market is a great way to help you to memorise and visualise the different market structure...
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